A short sale is when the mortgage lender agrees to accept a payoff of less than the balance due on the loan through a sale. Your closing cost including commissions are also absorbed. Read more
Able to stay in the house until sold.
Satisfies all mortgage debt
Has much less impact on your credit score
A Loan Modification
Of course, the better option is to find some way to stay in the house by first, seeing if the lender is willing to restructure the loan,. In this case you would need to qualify by proving hardship and meeting their specific ualify ing criteria.Read more
